The Mining industry benefited from generally improving conditions during the third quarter, evidenced by rising metal and equity prices as well as M&A activity. The positive trend was evident both in Canada, and across the globe. Mining M&A deal volume and value both increased globally, while in Canada, deal value rose while deal volume pulled back to Q1 levels.
The upbeat news had a broad base. Gold prices reversed a second-quarter dip to increase 11 percent, and the TSX/S&P Global Gold Index rose 15 percent. Copper prices pushed upward by 7 percent, and the TSX/S&P mining indices both navigated single-digit positive territory for the quarter. Global economics also lent a helping hand, with Europe and the US potentially grinding toward stability and demand-leader China openly discussing prospects for stimulus spending.